Meanwhile Bitcoin breaks $5000 and hits all time high at $5350 or so (now about $5250). This is the world currency everyone's been waiting for.
And not only that, it's being followed by a horde of altcoins designed for many different purposes, from online tipping to clean energy.
Those who hoarded altcoins in late 2016 for next to nothing are multimilionaires/bilionaires right now.

Edit 17-11-28:
Bitcoin now $10.000.

I have my doubts of a world currency at this point. Even bitcoin isn't accepted by the common industry. As well, the fact that bitcoin can be mined if you have a strong enough computer wouldn't handle well for the overall economy.

Stuff can be fixed, just get enough glue or duct tape!Roses are red, mana is blue. Suramar Guards, Will always find you!

Mostly what drives these cypto currencies are the Chinese. The Chinese don't have a lot of places to invest their money and the one place they do is in cypto currencies.

The Chinese government can put a stop to that tomorrow if they want.

They did in September. It's illegal to trade with Bitcoin in China.
Bitcoin went from $3000 to $10.000.
What is it you people don't understand about decentralized currency?
D-E-C-E-N-T-R-A-L-I-Z-E-D - as in, not centralized, not controlled by one entity

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Originally Posted by Gehco

I have my doubts of a world currency at this point. Even bitcoin isn't accepted by the common industry. As well, the fact that bitcoin can be mined if you have a strong enough computer wouldn't handle well for the overall economy.

You can't mine Bitcoin with a computer.

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Now it's at $11.100. Is it a bubble? Hard to say. It's been steadily increasing if we don't count a short lived drop in value from $7k to $5k a month or so ago.

Normal is an illusion. What is normal for the spider is chaos for the fly.
Dichen Lachman #1 fan.

Now it's at $11.100. Is it a bubble? Hard to say. It's been steadily increasing if we don't count a short lived drop in value from $7k to $5k a month or so ago.

Bitcoin is effectively the digital cost of your hardware's computing output. When Bitcoin started, you could mine it with laptops, now that computing power per bitcoin is so high, dedicated large scale farms are required.

Bitcoin is effectively the digital cost of your hardware's computing output. When Bitcoin started, you could mine it with laptops, now that computing power per bitcoin is so high, dedicated large scale farms are required.

Yeah that is correct, however those farms are made of ASICs which are computers in a way just not personal computers. You cant surf the net on them, play games, etc.

Normal is an illusion. What is normal for the spider is chaos for the fly.
Dichen Lachman #1 fan.

BTC has polarized spectators. Lots of hate going around. It doesn't help that the crypto market is so volatile. Joseph Stiglitz thinks bitcoin should be outlawed because its only purpose is to escape state regulation, and I have to agree with him on this. I would not be surprised to see states beyond China moving against bitcoin exchanges.

On the other hand, some cryptocurrencies, like Ethereum, have potential to be something more than a criminal transaction platform.

There are quite a few countries accepting Bitcoin, Japan most likely being the most imporant on this list. Bitcoin is a legal form of payment in many countries, and more to come.

Yeah, it's possible to cash it in. However you have to pay taxes just like normal, depending on the country.

You can buy cash with it and then you can buy food
But really, currency doesn't just happen overnight. Give it time, it won't take long before it completely takes off in Japan and then it's just going to explode.

If I had a dollar for every time someone said that Bitcoin is going to die, I would have been a millionaire now
I actually have 0 Bitcoins, however I have invested in altcoins. They are risky but on the countruary to Bitcoins which is a rather stable currency, altcoins can give back x10, x100, or even x1000 the return. That is actually quite realistic for those who invested in for example NEO. Back in February it was worth $0.1. Now it's $28 and all time high $50. That's a lot of return for those who were lucky to invest in the right coin.

Meanwhile Bitcoin breaks $5000 and hits all time high at $5350 or so (now about $5250). This is the world currency everyone's been waiting for.
And not only that, it's being followed by a horde of altcoins designed for many different purposes, from online tipping to clean energy.
Those who hoarded altcoins in late 2016 for next to nothing are multimilionaires/bilionaires right now.

How do people protect it from theft or fraud once they buy it? Regular currency is fully protected by law, is this one?

well coinbase has insurance on it so pretty safe there but the best place is to store it in a local wallet on a thumb drive.. since I have so little invested i'll just keep it on the exchanges until I get a nice profit then store it locally..

since my post though I took my profits from bitcoin and bought another litecoin for $190 .. which went wild and jumped over 400 a day later so was up to almost 2k off my $800.

Wait when the speculation bubble bursts . This is a virutal currency not backed up by anything (well similar to nowdays regular currencies that are not backed up by the gold anymore, goverments just print and print and print fucking up inflation ).

Wait when the speculation bubble bursts . This is a virutal currency not backed up by anything (well similar to nowdays regular currencies that are not backed up by the gold anymore, goverments just print and print and print fucking up inflation ).

When it bursts (if ever) it's going to be time to buy the hell out of BTC and popular alts.